Bill
Bill > HB1278
TN HB1278
TN HB1278AN ACT to amend Tennessee Code Annotated, Title 4; Title 5; Title 6; Title 7; Title 9 and Title 58, relative to providing financial assistance in counties impacted by Hurricane Helene.
summary
Introduced
02/06/2025
02/06/2025
In Committee
04/17/2025
04/17/2025
Crossed Over
04/21/2025
04/21/2025
Passed
04/28/2025
04/28/2025
Dead
Signed/Enacted/Adopted
05/27/2025
05/27/2025
Introduced Session
114th General Assembly
Bill Summary
As enacted, authorizes use of the Hurricane Helene interest payment fund to pay local governments' loan charges; makes related changes. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9 and Title 58.
AI Summary
This bill establishes a Hurricane Helene interest payment fund designed to provide financial assistance to local governments in counties affected by Hurricane Helene. Specifically, the fund will help local governments pay loan charges and interest costs for up to three years on money borrowed for disaster recovery expenses. The fund will cover interest costs up to 5% or the prime interest rate, whichever is lower, but only for local governments located in counties included in the federal disaster declaration for Hurricane Helene. The bill defines "loan charges" broadly to include various fees associated with loan processing and servicing, such as origination fees, application fees, appraisal fees, payment processing fees, and brokerage fees. The act will take effect immediately upon becoming law, with the stated purpose of supporting public welfare by helping local governments recover from the hurricane's damage.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (15)
Timothy Hill (R)*,
Becky Jo Alexander (R),
John Clemmons (D),
John Crawford (R),
Rick Eldridge (R),
Jeremy Faison (R),
David Hawk (R),
Gary Hicks (R),
Tim Hicks (R),
Dan Howell (R),
Bud Hulsey (R),
Renea Jones (R),
Chris Todd (R),
Mark White (R),
Ryan Williams (R),
Last Action
Effective date(s) 05/21/2025 (on 05/27/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1278&ga=114 |
| BillText | https://publications.tnsosfiles.com/acts/114/pub/pc0521.pdf |
| Amendment 2-0 to HB1278 | https://www.capitol.tn.gov/Bills/114/Amend/HA0499.pdf |
| Fiscal Memo for HA0499 (7424) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM1320.pdf |
| Amendment 1-0 to HB1278 | https://www.capitol.tn.gov/Bills/114/Amend/HA0292.pdf |
| Fiscal Memo for HA0292 (5314) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM0811.pdf |
| Fiscal Note - SB0646 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB0646.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB1278.pdf |
Loading...